Entropy Technologies LP Sells 70,907 Shares of UiPath, Inc. (NYSE:PATH)

Entropy Technologies LP decreased its position in shares of UiPath, Inc. (NYSE:PATH) by 61.1% during the first quarter, HoldingsChannel reports. The fund owned 45,092 shares of the company’s stock after selling 70,907 shares during the quarter. Entropy Technologies LP’s holdings in UiPath were worth $464,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of PATH. Versant Capital Management Inc increased its position in UiPath by 198.6% during the first quarter. Versant Capital Management Inc now owns 2,962 shares of the company’s stock valued at $31,000 after acquiring an additional 1,970 shares during the last quarter. CX Institutional bought a new position in UiPath during the first quarter valued at $36,000. True Wealth Design LLC increased its position in UiPath by 18.4% during the fourth quarter. True Wealth Design LLC now owns 5,163 shares of the company’s stock valued at $66,000 after acquiring an additional 801 shares during the last quarter. National Bank of Canada FI bought a new position in UiPath during the first quarter valued at $72,000. Finally, MRP Capital Investments LLC bought a new position in UiPath during the first quarter valued at $82,000. Institutional investors own 62.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PATH. Scotiabank boosted their price objective on shares of UiPath from $12.00 to $13.00 and gave the company a “sector perform” rating in a research report on Friday, May 30th. Needham & Company LLC reissued a “hold” rating on shares of UiPath in a research note on Friday, May 30th. Evercore ISI boosted their target price on shares of UiPath from $11.00 to $15.00 and gave the company an “in-line” rating in a research note on Friday, May 30th. Royal Bank Of Canada boosted their target price on shares of UiPath from $13.00 to $15.00 and gave the company a “sector perform” rating in a research note on Friday, May 30th. Finally, Morgan Stanley boosted their target price on shares of UiPath from $12.00 to $15.00 and gave the company an “equal weight” rating in a research note on Monday, June 2nd. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $13.83.

UiPath Price Performance

NYSE:PATH opened at $10.99 on Thursday. UiPath, Inc. has a 1-year low of $9.38 and a 1-year high of $15.93. The company has a 50-day moving average of $12.31 and a 200 day moving average of $12.24. The firm has a market cap of $5.88 billion, a PE ratio of -91.58, a price-to-earnings-growth ratio of 13.76 and a beta of 1.03.

UiPath (NYSE:PATH) last released its quarterly earnings data on Thursday, May 29th. The company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. UiPath had a negative net margin of 4.65% and a negative return on equity of 3.05%. The company had revenue of $356.62 million during the quarter, compared to analyst estimates of $332.17 million. During the same period in the prior year, the firm earned $0.13 earnings per share. The firm’s revenue for the quarter was up 6.4% compared to the same quarter last year. Sell-side analysts anticipate that UiPath, Inc. will post -0.17 EPS for the current fiscal year.

Insiders Place Their Bets

In other UiPath news, CEO Daniel Dines sold 9,988 shares of the business’s stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $12.00, for a total value of $119,856.00. Following the completion of the transaction, the chief executive officer directly owned 4,598,388 shares in the company, valued at approximately $55,180,656. The trade was a 0.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold 831,310 shares of company stock valued at $10,428,922 over the last ninety days. 23.19% of the stock is owned by corporate insiders.

UiPath Company Profile

UiPath Inc provides an end-to-end automation platform that offers a range of robotic process automation (RPA) solutions primarily in the United States, Romania, the United Kingdom, the Netherlands, and internationally. The company offers a suite of interrelated software to build, manage, run, engage, measure, and govern automation within the organization.